NEW DELHI: The Indian markets were moving in a range with a negative bias on Wednesday, led by losses in auto, IT, banking and metal stocks.

Following are the latest recommendations by brokerages on select stocks which are likely to be in action today:

1) Bharti Infratel Ltd: Morgan Stanley has initiated coverage on Bharti Infratel with an 'overweight' rating. The brokerage has set the price target at Rs 255. MS prefers Bharti Infratel over parent and says the tower company should benefit from data traffic growth.

Morgan Stanley expects CAGR of 25 per cent in net profit over FY12-15. Bharti Infratel also has positive free cash flow and balance sheets, as well as 'attractive valuations'.

At 10:50 am, Bharti Infratel was trading 0.3 per cent higher at Rs 205.90. It has hit a low of Rs 205 and a high of Rs 210 in trade today.

2) Axis Bank Ltd: CLSA maintains 'buy' rating on Axis Bank with the price target set at Rs 1670. The brokerage expects earnings to grow by 18 per cent CAGR over FY12-15, led by loan growth and stable asset quality trends.

At 10:50 am, Axis Bank was trading 0.6 per cent lower at Rs 1413.45. It has hit a low of Rs 1406 and a high of Rs 1429.45.

3) Jaiprakash Power Ventures Ltd: JPMorgan has downgraded JP Power from 'overweight' earlier to 'neutral' as the stock offers modest upside and catalysts are limited in near-term.

The brokerage maintains the price target at Rs 42. JPM expects the company to post standalone loss of Rs 100 cr in the March quarter as well. The brokerage has cut FY13 earnings estimates by 44 per cent and FY14 estimates by 10 per cent.

At 10:50 am, the stock was trading 1.7 per cent lower at Rs 35.85. It has hit a low of Rs 35.70 and a high of Rs 36.65 in trade today.

4) Bajaj Finserv Ltd: Bank of America Merrill Lynch maintains 'buy' rating on Bajaj Finserv and has upped the price target from Rs 1014 to Rs 1117. BofA-ML has raised the life business value to factor in better growth expected in FY14, driven by strong distribution network, product range and sustainable margins.

At 10:50 am, the stock was trading 0.9 per cent higher at Rs 881. It has hit a low of Rs 876.40 and a high of Rs 895.70 in trade today.